- Yen Tumbles As BoJ Refuses To Change Ultra-Easy Monetary Policy
by Tyler Durden, https://www.zerohedge.com/
The yen weakened on Friday after the Bank of Japan maintained its ultra-easy monetary stance, increasing policy divergence with its global peers.
“While the decision was within expectations, those who want to challenge the BOJ will continue to do so, putting focus on Japan’s upper house election,” said Mari Iwashita, chief market economist at Daiwa Securities.
“I doubt if the challenge will pick up immediately after today’s decision, but the battle will resume in July.”
Governor Haruhiko Kuroda continued to signal a dovish stance, but the BOJ did make a rare reference to the currency market, saying it needed to watch its impact on the economy and markets.